The Automotive Fasteners Market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Demand for automotive fasteners is largely based in the Asia-Pacific region. This region boasts of a booming automotive industry, including the manufacturing of countless vehicles and a growing per capita income. The region is expected to grow rapidly in the coming years, thanks to factors such as increased vehicle sales and increased demand for customized parts.
The Automotive Fasteners Market is expected to reach USD million by 2021, at a CAGR of %. This market is also expected to grow rapidly in China and Germany, which together account for % of the worldwide market. Japan and South Korea are also projected to grow at a CAGR of % over the next five years. The report also examines key advancement systems within the Automotive Fasteners market. Once this has been done, it is time to make the decision about the product line that will serve the automotive industry’s needs.
The Automotive Fasteners Market research report analyzes the competitive landscape in the market and provides insights into the strategies of leading firms. The report highlights key trends, drivers, and segments, thereby providing valuable guidance for business decision-makers. Further, it provides in-depth company profiles and detailed product offerings for each firm. The report includes information on their financials, recent developments, and SWOT analysis. You’ll also get an overview of the past performance of leading firms in the Automotive Fasteners industry.
The fastest-growing segment in the Automotive Fasteners market is the non-threaded segment. These fasteners do not have internal threading and demonstrate alternative methods for securing mechanical components. In 2020, the plastic segment will lead the Automotive Fasteners Market, primarily because of its versatility, recyclability, and thermal properties. Stainless-steel is projected to develop at the fastest CAGR over the next several years.
The Global Automotive Fasteners Market research report provides in-depth information on key players in the industry. Leading players include Sundram Fasteners Limited, ITW, LISI Group, Shanghai Prime Machinery Company, and SFS Group AG. Key segments within the Automotive Fasteners Market include Nipman Fasteners, Meidoh Co. Ltd., and Stanley Black & Decker. In addition to major players, this report provides an in-depth look at the emerging technologies and key trends in this market.
Automotive fasteners are primarily used in vehicle assembly and repair. They are designed to hold parts together permanently and temporarily. Fasteners in vehicles include screws, nuts, snap rings, and rivets. Recently, the COVID-19 pandemic affected the global automotive industry, causing shortages of raw materials. These disruptions have forced market stakeholders to seek alternative solutions in order to bring quality products to the market. But, how do they define quality?
Growing demand for electric vehicles is the main factor fueling the growth of the Automotive Fasteners Market. The demand for electric vehicles is resulting from the growing need for fasteners in battery casings, charging units, and general infrastructural equipment. Government support for zero-emission vehicles is influencing players to offer electrified vehicles globally. High-quality automotive fasteners improve vehicle performance and fuel efficiency.